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FINANCIAL NEWS
ME’s carriers cargo growth up 7.8 percent in August
02 Oct 2014
(MENAFN) Middle Eastern carriers reported a growth by 7.8 percent in cargo in August, which is lower than the 2014 average of 9.6 percent previously expected, Arabian Business reported.
Despite growth being below average, Middle East airlines continue to expand strongly on its growing links to developing markets, as well as diversifying into important commodities such as perishables in their cargo, especially with cargo capacity being up 6 percent.
Compared to global numbers, airlines in the Middle East, North America and Asia reported the strongest growth in the 5-8 percent range in cargo capacity due improvements in world trade and business activity.
By comparison, demand in Europe and Latin America dropped to the 1-1.5 percent range due to weakness in Brazilian economy as well as the EU sanctions on business on Russia.
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